I am not very good at short term trading, but it seems to me that all of the restaurant stocks are overpriced, the DOW has gone up 7 weeks in a row, and some of the recent high flyers (CSTR and probably AAPL when the market opens tomorrow) have gotten killed.

Chipotle is a great long term stock, but short term trading at a PE of 45 with a 10% short position, its due for a correction. The news has been all good. If this correction happens, the news will probably turn negative. That's the time to cover.

I picked $180 (its currently at $234) as the target price because there's a gap to be filled around $180. If things go the other way, I would cover (this is a short sale) at the old high ($262).